Turmalina Announces Closing of Share Financing
Turmalina Metals Corp (TBX-TSXV, TBXXF-OTCQX) has successfully closed its non-brokered private placement offering, raising $5 million through the issuance of 100 million common shares at $0.05 per share. The proceeds will fund the company's property costs and working capital needs.
The offering included participation from company insiders, with two directors and an officer-controlled corporate subscriber acquiring 8.5 million shares for $425,000. Additionally, 1,746,500 shares were issued to eligible arm's length finders. All issued securities are subject to a four-month-plus-one-day statutory hold period.
The company has announced plans to rebrand as King Copper Discovery Corp, with its TSX Venture Exchange trading symbol changing to 'KCP'.
Turmalina Metals Corp (TBX-TSXV, TBXXF-OTCQX) ha chiuso con successo la sua offerta di collocamento privato non mediato, raccogliendo 5 milioni di dollari attraverso l'emissione di 100 milioni di azioni ordinarie a 0,05 dollari per azione. I proventi finanzieranno i costi di proprietà dell'azienda e le necessità di capitale circolante.
L'offerta ha incluso la partecipazione di membri interni all'azienda, con due direttori e un sottoscrittore aziendale controllato da un dirigente che hanno acquisito 8,5 milioni di azioni per 425.000 dollari. Inoltre, sono state emesse 1.746.500 azioni a trovatori idonei. Tutti i titoli emessi sono soggetti a un periodo di blocco statutario di quattro mesi più un giorno.
L'azienda ha annunciato piani per un rebranding come King Copper Discovery Corp, con il simbolo di negoziazione sulla TSX Venture Exchange che cambierà in 'KCP'.
Turmalina Metals Corp (TBX-TSXV, TBXXF-OTCQX) ha cerrado con éxito su oferta de colocación privada no mediada, recaudando 5 millones de dólares a través de la emisión de 100 millones de acciones comunes a 0,05 dólares por acción. Los ingresos se destinarán a financiar los costos de propiedad de la empresa y las necesidades de capital de trabajo.
La oferta incluyó la participación de personas internas a la empresa, con dos directores y un suscriptor corporativo controlado por un funcionario que adquirieron 8,5 millones de acciones por 425.000 dólares. Además, se emitieron 1.746.500 acciones a localizadores elegibles. Todos los valores emitidos están sujetos a un período de retención legal de cuatro meses más un día.
La empresa ha anunciado planes para rebranded como King Copper Discovery Corp, con su símbolo de negociación en la TSX Venture Exchange cambiando a 'KCP'.
투르말리나 메탈스 Corp (TBX-TSXV, TBXXF-OTCQX)는 중개인 없는 사모 배급을 성공적으로 마감하고 500만 달러를 조달했습니다. 이는 주당 0.05달러에 1억 주의 보통주를 발행한 결과입니다. 수익금은 회사의 자산 비용과 운영 자본 필요를 충당하는 데 사용될 것입니다.
이번 배급에는 회사 내부자들이 참여했으며, 두 명의 이사와 임원이 통제하는 기업 구독자가 425,000달러에 850만 주를 인수했습니다. 또한, 1,746,500주가 적격한 외부 찾는 이들에게 발행되었습니다. 발행된 모든 증권은 4개월 + 1일의 법적 보유 기간에 해당됩니다.
회사는 킹 구리 발견 Corp로 브랜드를 변경할 계획을 발표했으며, TSX 벤처 거래소에서의 거래 기호는 'KCP'로 변경됩니다.
Turmalina Metals Corp (TBX-TSXV, TBXXF-OTCQX) a réussi à clôturer son offre de placement privé non intermédiaire, levant 5 millions de dollars grâce à l'émission de 100 millions d'actions ordinaires à 0,05 dollar par action. Les produits serviront à financer les coûts de propriété de l'entreprise et ses besoins en fonds de roulement.
L'offre a inclus la participation d'initiés de l'entreprise, avec deux administrateurs et un souscripteur d'entreprise contrôlé par un dirigeant ayant acquis 8,5 millions d'actions pour 425 000 dollars. De plus, 1 746 500 actions ont été émises à des intermédiaires éligibles. Tous les titres émis sont soumis à une période de blocage légale de quatre mois plus un jour.
L'entreprise a annoncé des plans pour se renommer King Copper Discovery Corp, avec son symbole de négociation à la Bourse de croissance TSX changeant en 'KCP'.
Turmalina Metals Corp (TBX-TSXV, TBXXF-OTCQX) hat erfolgreich ihr nicht vermittelte Privatplatzierung abgeschlossen und 5 Millionen Dollar durch die Ausgabe von 100 Millionen Stammaktien zu je 0,05 Dollar pro Aktie gesammelt. Die Erlöse werden zur Finanzierung der Grundstückskosten und des Betriebskapitals des Unternehmens verwendet.
Die Platzierung umfasste die Teilnahme von Unternehmensinsidern, wobei zwei Direktoren und ein von einem Offizier kontrollierter Unternehmenszeichner 8,5 Millionen Aktien für 425.000 Dollar erwarben. Darüber hinaus wurden 1.746.500 Aktien an berechtigte Vermittler ausgegeben. Alle ausgegebenen Wertpapiere unterliegen einer gesetzlichen Haltefrist von vier Monaten plus einem Tag.
Das Unternehmen hat Pläne angekündigt, sich in King Copper Discovery Corp umzubenennen, wobei sich das Handelssymbol an der TSX Venture Exchange in 'KCP' ändern wird.
- Secured $5M in fresh capital
- Strong insider participation with $425K investment
- Management alignment with shareholders through insider buying
- Significant shareholder dilution with 100M new shares issued
- Low share price of $0.05 indicates potential financial distress
- Additional shares issued to finders dilute existing shareholders further
VANCOUVER, British Columbia, March 03, 2025 (GLOBE NEWSWIRE) -- Turmalina Metals Corp. (“Turmalina”, or the “Company”; TBX-TSXV, TBXXF-OTCQX, 3RI-FSE) is pleased to announce that it has closed its previously announced non-brokered private placement offering (the “Offering”) for aggregate gross proceeds of
The net proceeds of the Offering will be used to satisfy continuing costs associated with the Company’s properties and for general working capital purposes.
In connection with closing of the Offering, the Company issued an aggregate of 1,746,500 Shares to certain eligible arm’s length finders.
All securities issued in connection with closing of the Offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
The subscribers in the Offering included two directors, as well as one corporate subscriber controlled by an officer of the Company (collectively, the “Insiders”), who subscribed for an aggregate of 8,500,000 Shares for aggregate gross proceeds of
The Company also anticipates completing a name change in the near future, to “King Copper Discovery Corp.”. Concurrently with the name change, the Company’s trading symbol on the TSX Venture Exchange will change to “KCP”. Further details related to the name change will be provided in subsequent news releases of the Company.
On Behalf of the Company,
Jonathan Richards, Chief Executive Officer
Website: turmalinametals.com
Address: #1507 - 1030 West Georgia St, Vancouver, BC V6E 3M5.
For Investor Relations enquiries, please contact +1 833 923 3334 (toll free) or via info@turmalinametals.com.
Statements
About Turmalina Metals and our projects: Turmalina Metals is a TSXV-listed exploration company focused on developing our portfolio of high-quality gold-copper-silver projects in South America. Turmalina Metals is led by a team responsible for multiple gold-copper-silver discoveries.
Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Forward looking statements in this news release include the anticipated use of proceeds of the Offering. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions, as well as legal, social, and economic conditions in Argentina and Peru, where the Company’s mineral exploration properties are located. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
FAQ
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